Coca-Cola is scheduled to report third-quarter earnings before the market opens Tuesday as the soda company expands beyond its core soft-drink business and eyes the burgeoning cannabis market for possible future growth.
CEO James Quincey, who’s about 18 months on the job, reshuffled his management team earlier this month, picking a longtime company veteran for his No. 2.
The Atlanta-based company also made one of its largest acquisitions during the quarter with the $5.1 billion purchase of British coffee shop Costa, placing it in direct competition with Starbucks.
Here’s what Wall Street expects, based on average estimates of analysts polled by Refinitiv:
- Earnings per share: 55 cents
- Revenue: $8.169 billion
Pot stocks soared last month after Coke said it it was “closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world. The space is evolving quickly. No decisions have been made at this time.”
Quincey will discuss the company’s earnings on CNBC’s “Squawk on the Street” at 10 a.m. ET on Tuesday.